Kopin Receives Additional $6 Million Order for Thermal Weapon Sight

Rhea-AI Summary

Kopin Corporation (KOPN) has received a $6 million follow-on order for a thermal weapon sight eyepiece subassembly, potentially tripling production volumes in fiscal year 2024 compared to 2023. The order demonstrates Kopin's responsiveness and reliability in delivering weapon sights and targeting products. The CEO, Michael Murray, sees this as a foundation for significant revenue and profitable growth in 2024 and beyond.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical solutions and high performance micro-displays for defense, enterprise, consumer and medical products, today announced it has received an approximately $6 million follow-on order for one of its thermal weapon sight eyepiece subassemblies.

The eyepiece subassembly is a critical component provided to a Department of Defense prime contractor that integrates the eyepiece into a sophisticated video “see through” AR optical module using Kopin’s proprietary high-brightness microdisplay and custom-designed Pancake® optics.

This additional increase in demand potentially triples our thermal weapon sight production volumes in fiscal year 2024, as compared to 2023.

“This fourth follow-on order we have received for this product is a testament to Kopin’s responsiveness and reliability in delivering weapon sights and targeting products in this fast-changing global environment,” said Bill Maffucci, Kopin's Vice President of Business Development and Strategy.

Michael Murray, Kopin's Chief Executive Officer, stated, “This most recent order is the result of our continued focus on becoming a world-class developer and manufacturer of application-specific optical solutions that consistently delivers on-time and in-full quality. This additional order adds to an already strong order book and is the foundation for significant revenue and profitable growth, in 2024 and beyond.”

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin's technology portfolio includes ultra-small Active-Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin's website at www.kopin.com.

Forward-Looking Statements

Statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. Words such as “expects,” “believes,” “can,” “will,” “estimates,” and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to our belief that this additional increase in demand potentially triples our thermal weapon sight production volumes in fiscal year 2024, as compared to our 2023 production; and our expectation that this additional order adds to an already strong order book and is the foundation for significant revenue and profitable growth, in 2024 and beyond. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, or as updated from time to time in our Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231218252929/en/

Kopin Corporation

Bill Maffucci, 508-870-5959

VP of Business Development and Strategy

bmaffucci@kopin.com

Richard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

or

MZ Contact:

Brian M. Prenoveau, CFA, 561-489-5315

MZ Group – MZ North America

KOPIN@mzgroup.us

Source: Kopin Corporation

FAQ

What is the recent announcement from Kopin Corporation (KOPN)?

Kopin Corporation (KOPN) has received a $6 million follow-on order for a thermal weapon sight eyepiece subassembly, potentially tripling production volumes in fiscal year 2024 compared to 2023.

Who is the CEO of Kopin Corporation (KOPN)?

Michael Murray is the CEO of Kopin Corporation (KOPN).

What is the significance of the recent order for Kopin Corporation (KOPN)?

The order demonstrates Kopin's responsiveness and reliability in delivering weapon sights and targeting products, laying the foundation for significant revenue and profitable growth in 2024 and beyond.